FinancialForce vs Salesforce Financial Services Cloud

Traditional financial systems aren’t cutting it anymore, especially as financial operations become more complex. How do you adapt to the changing rules, then?

The pressure to reduce costs, improve efficiency, and scale operations has never been more pressing. In this environment, businesses need more than just basic financial tracking. They require integrated solutions that can provide real-time insights, support smarter decision-making, and enhance collaboration across departments' finance teams.

That’s where the two main players enter the game: Certinia FinancialForce and Salesforce Financial Service Cloud. These two platforms promise to transform financial management by addressing the pressing challenges such as fragmented data, operational inefficiencies, limited scalability, customer engagement gaps, and regulatory compliance hurdles.

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In this comparison, we’ll dive into how Certinia and Salesforce Financial Service Cloud tackle the modern challenges of financial management and help you understand which platform is best suited to drive long-term efficiency, cost savings, and scalability for your business.

What is Certinia FinancialForce?

Certinia (formerly FinancialForce) is a cloud-based ERP and PSA solution built on the Salesforce platform, designed to streamline business operations and provide a unified view of sales, services, and finance. Certinia offers features like multi-entity accounting and multi-currency handling and helps organizations drive growth, enhance operational efficiency, and maintain a laser focus on customer success.

Core Functionality of Certinia ERP & PSA Solutions

Financial Management

Certinia has a lot of various tools for accounting, financial reporting, and billing. These tools help businesses manage their finances easier. Moreover, Certinia’s integration with Salesforce ensures that financial data is connected to customer interactions, providing real-time insights and reducing the time spent on manual reconciliation.

Project & Resource Management

Certinia’s Professional Services Automation (PSA) module helps businesses optimize project delivery and resource utilization. Time and expense tracking features, automated invoicing, and project management dashboards help companies keep their projects on track, improve profitability, and allocate resources wisely and efficiently.

Collaboration & Communication

Certinia fosters teamwork and collaboration with tools like Slack and Salesforce Chatter®. This tool allows team members to share updates, manage discussions, and track progress in real-time. This transparent communication flow keeps everyone aligned across departments, from sales to service delivery.

Real-Time Analytics & Reporting

Certinia offers integrated analytics and personalized dashboards; these features help businesses make data-driven decisions faster. The ability to view financials, sales, and project status from one centralized location means companies can act on insights immediately, improving operational agility.

Mobile & Remote Access

Certinia’s mobile support ensures that teams can access critical business data from anywhere, anytime. Whether in the office, at a client site, or working remotely, team members can stay connected and responsive with the same rich functionality they’d have on a desktop.

What is Financial Service Cloud Salesforce?

Salesforce Financial Services Cloud is a CRM solution specifically designed for banks, wealth management firms, and insurance companies.

Unlike operational finance systems, SFSC focuses on enhancing client relationships and compliance tracking.

This platform helps unify data across core banking, wealth, and insurance platforms. SFSC has industry-specific configurations such as mortgage lending or claims management for insurers. Its tools provide financial institutions with a complete view of their clients and empower teams with AI-driven insights and automation.

SFSC allows financial institutions to enhance relationships, improve efficiency, and drive revenue growth by centralizing customer data and offering personalized engagement tools.

Key Functionalities

Customer Data Centralization

SFSC allows businesses to centralize all customer data into a unified profile. It integrates data from core banking, wealth, and insurance platforms and enables financial advisors to have a single view of the customer. By providing a complete and real-time view of the customer, advisors can spend more time focused on building relationships and less on manual data entry.

Compliance Tracking

Compliance is a critical concern for financial institutions, and Financial Service Cloud Salesforce helps mitigate compliance risks through built-in tracking and automated workflows. The platform offers features like disclosure management, consent tracking, and audit trails and ensures that every step of client engagement is documented and compliant with industry regulations.

Relationship Insights

Salesforce Financial Services Cloud leverages Einstein Relationship Insights, an AI-driven feature that gives financial advisors a deeper understanding of their clients’ relationships, behaviors, and needs. This tool analyzes data across multiple touchpoints and delivers actionable insights that help advisors anticipate client needs, offer personalized recommendations, and build stronger, more proactive relationships.

Enhanced Security with Salesforce Shield

Salesforce Shield is critical for the security of sensitive financial data in the Financial Services Cloud. It offers features like Platform Encryption, Event Monitoring, and Field Audit Trail. Platform Encryption protects data at rest and in transit, Event Monitoring is responsible for detecting unusual activity, and Field Audit Trail ensures compliance by tracking data changes.

Scalability & Integration

Financial Services Cloud integrates seamlessly with other Salesforce products, such as Sales Cloud, Service Cloud, and Data Cloud, to provide a full Customer 360 view. Moreover, with tools like MuleSoft, businesses can integrate third-party applications and external data sources to expand their capabilities. Salesforce Shield ensures compliance with enterprise-grade security standards through encryption, audit trails, and event monitoring

Core Features Comparison

Both solutions are built on the Salesforce platform, but they serve distinct purposes.

Certinia focuses on comprehensive financial management and enterprise resource planning (ERP), while Salesforce Financial Services Cloud enhances client relationships and wealth management.

Financial Management

Certinia is an advanced ERP solution that offers a full suite of financial management tools, including accounts payable and receivable, general ledger, and revenue recognition. It also features advanced capabilities like project margin forecasting and billing automation, ensuring streamlined and accurate financial operations across the business. This makes it an excellent choice for companies seeking a fully integrated financial solution.
Salesforce Financial Services Cloud, on the other hand, emphasizes customer-centric features designed for financial professionals, such as goal-based planning, household management, and wealth reports. Enhanced by Einstein AI’s insights, the platform helps financial advisors anticipate client needs and deliver proactive, tailored advice.

Integration Capabilities

Both Certinia and Salesforce Financial Services Cloud are built to integrate seamlessly within the Salesforce ecosystem. However, the integration approach varies:

Certinia emphasizes ERP integration with other enterprise applications. It ensures that financial operations are aligned with the overall business processes. It is particularly effective for companies that require a strong back-office financial system that integrates with supply chain, HR, and other operational systems.
Salesforce Financial Services Cloud is deeply integrated with Salesforce CRM. It ensures that customer financial data is linked with customer relationship data, which makes it easier for financial advisors to provide personalized and proactive advice.

Customization and Scalability

Salesforce Financial Services Cloud offers high levels of customization when it comes to client interaction, including personalized workflows, financial goal tracking, and client segmentation. It’s designed to be flexible regarding how financial advisors manage relationships, ensuring that different financial needs can be addressed at scale.
Certinia, with its ERP roots, provides a broader range of operational scalability. It excels in managing large volumes of financial transactions, automating financial business processes, and ensuring that financial operations scale across different departments. Customization in Certinia is more focused on internal workflows, reporting structures, and accounting practices, making it ideal for businesses with complex financial operations that need a tailored, all-encompassing ERP system.

Comparison Table: Certinia vs. Salesforce Financial Services Cloud

Feature	Certinia	Salesforce Financial Services Cloud
Core Focus	Comprehensive financial management (ERP).	Client-centric financial planning and wealth management.
Financial Management	Advanced ERP features include a general ledger, accounts payable/receivable, and revenue recognition.	Wealth management tools: financial goal tracking, wealth reports, household management.
Target Users	Finance teams, accountants, and CFOs in businesses needing full financial operations.	Financial advisors, wealth managers, insurance brokers, and financial consultants.
Integration	Strong ERP integration across business operations (supply chain, HR, sales, etc.).	Deep integration with Salesforce CRM, MuleSoft, and Salesforce Shield, focusing on client data and relationship management.
Customization	Highly customizable financial workflows, reporting, and ERP functionality.	Customizable client interaction workflows, financial planning, and service models.
Scalability	Scalable to manage large financial operations, ideal for enterprises.	Scalable for financial services firms, focusing on growing client relationships.
Security	Comprehensive security for financial data across operations. Possible to buy advanced security options with Salesforce shield.	Advanced security with Salesforce Shield, focused on protecting client financial data.
Automation	Automated invoicing, billing, and revenue recognition.	AI-driven insights goal-based financial recommendations.
Industry Focus	Ideal for businesses needing full ERP integration across departments.	Tailored for financial services, wealth management, and client-centric advisory roles.

Pricing Structure

When choosing between Certinia and Salesforce Financial Services Cloud, understanding their pricing structures is key to making the right decision for your business.

Both solutions offer flexible, subscription-based models tailored to their respective focuses - ERP for operational efficiency and client-centric tools for financial services. Let’s break it down.

Certinia Pricing

Certinia offers a subscription-based pricing model designed to scale with your business. Certinia is built for companies that need a unified platform for finance, operations, and professional services; thus, its pricing reflects its feature set.

Here’s the breakdown of Certinia pricing:

Core User Access: Pricing starts at $175/user/month, giving full access to all financial management and ERP features.
Executive Users: $125/month for read-only access to reports and dashboards, perfect for leadership roles.
Sales Users: Just $10/month for limited access to view relevant sales data.
Small Teams: A small business setup typically starts around $9,000 annually, depending on selected modules and user count.

Whether you need Professional Services Automation (PSA) or advanced billing tools, you can build your package around your business needs.

Salesforce Financial Services Cloud Pricing

Salesforce Financial Services Cloud offers pricing built around user licenses, customized to deliver a complete suite of tools for financial advisors, wealth managers, and insurance professionals. There are also volume licensing discounts for enterprise customers.

Sales & Service Cloud Enterprise Edition: Starts at $300/user/month (billed annually) and includes tools for CRM, client financial goal management, and relationship tracking.
Unlimited Edition: Priced at $325/user/month, adding advanced features and scalability for larger teams.
Einstein AI Suite: Starts at $700/user/month for enhanced AI capabilities like predictive analytics, client insights, and digital engagement.

For customers with specialized needs like insurance or digital lending, Salesforce offers custom pricing:

Core Insurance Platform: $180,000/year for enterprise-wide tools, with additional modules like claims processing billed based on gross written premium (GWP).

Salesforce doesn’t stop at pricing; it also provides support tiers:

Standard Plan: Included with all licenses, offering self-guided resources like documentation and Trailhead training.
Premier Plan: Adds expedited support and health checks for 30% of your license fees.
Signature Plan: Personalized success management and 24/7 fast-track support (custom pricing).

Comparison Table: Certinia vs. Salesforce Financial Services Cloud

Feature	Certinia	Salesforce Financial Services Cloud
Pricing Model	Subscription-based, starting at $175/user/month.	User-license-based, starting at $300/user/month.
Flexibility	Modular pricing based on ERP tools and PSA.	Add-ons like Einstein AI, Insurance Product Administration ($180,000/year), Insurance Policy Administration ($42,000/$10 million Gross Written Premium (GWP)/year), Insurance Claims Management ($27,000/$10 million GWP/year)
Small Business Costs	Around $9,000/year for small teams.	Scales based on user licenses and selected features.
Enterprise Costs	Higher for ERP-heavy setups with multiple modules.	Moderate for CRM-focused systems with add-ons.
Customization	Extensive options for ERP and operational needs.	Focused on client relationships and service workflows.
AI Capabilities	No dedicated AI tools.	Available via Einstein AI at $700/user/month.
Target Users	Finance teams, operations managers, and CFOs.	Financial advisors, wealth managers, and insurers.
Support Plans	Flexible based on organization size and needs.	Standard, Premier, and Signature plans.

When to Choose Certinia

If you require a comprehensive ERP solution that integrates financial management, operational efficiency, and project tracking - go for Certinia. This platform unifies various business functions; thus, it is an ideal solution for companies looking for streamlined workflows and real-time visibility across operations.

Here’s when choosing Certinia is the best option:

Businesses Needing Comprehensive ERP Integration

Companies that require seamless integration between finance, operations, and customer data.
Organizations that depend on advanced tools for accounts payable/receivable, revenue recognition, and billing automation.
Businesses needing ERP modules like Professional Services Automation (PSA), supply chain management, and HR systems.

Companies Managing Complex Financial Operations

Firms handling multi-entity operations or operating across multiple geographies and currencies.
Those requiring customizable financial reports and dashboards for insights into financial health, business performance, and operational efficiency.

Service-Oriented Businesses

Professional services firms managing projects, billing, and client deliverables.
Companies where resource optimization and profitability tracking are key priorities.

Organizations Scaling Rapidly

Businesses expanding into new regions or markets needing a scalable ERP solution.
Enterprises seeking robust financial infrastructure to support long-term growth.

When to Choose Salesforce Financial Services Cloud

Salesforce Financial Services Cloud is built specifically for financial institutions that prioritize customer relationship management (CRM), regulatory compliance, and client-centric strategies.

Here are scenarios where this solution is the best choice:

Financial Institutions Focused on Client Relationships

Wealth management firms needing a holistic view of client profiles and financial goals.
Banks and credit unions looking to deepen client engagement through tailored advice and proactive recommendations.

Organizations with Compliance Requirements

Firms that must adhere to fiduciary standards or meet strict regulatory demands.
Institutions benefiting from built-in compliance features, such as audit trails, secure data encryption, and event monitoring.

Businesses Prioritizing AI and Analytics

Companies leveraging AI-driven insights to enhance customer experiences.
Firms using predictive analytics for goal-based financial planning and relationship mapping.

Customer-Facing Teams in Financial Services

Advisors and relationship managers requiring tools for segmentation, referral tracking, and household management.
Insurance providers using policy and claims management modules for streamlined workflows.

Small to Medium-Sized Financial Institutions

Smaller firms looking for an easy-to-implement CRM solution tailored for financial services.
Organizations needing modular pricing with room for growth through add-ons like Einstein AI or Digital Lending solutions.

Quick Decision Guide

Choose FinancialForce When…	Choose Salesforce Financial Services Cloud When…
You need a unified ERP system for finance and operations.	Your focus is on deepening client relationships.
Your organization requires advanced project and resource management tools.	You want tools for financial goal tracking and client segmentation.
Financial management workflows are complex and require customization.	Compliance and regulatory adherence are critical priorities.
You are scaling rapidly and need financial tools that grow with you.	AI-driven insights and personalized client engagement are key goals.
Your business spans multiple regions with multi-currency needs.	Your team focuses on relationship mapping and wealth planning.

Challenges and Considerations

When choosing between Certinia and Salesforce Financial Services Cloud, it’s important to weigh potential challenges alongside their benefits. Certified implementation partners are often essential for success with both platforms.

Aspect	Certinia	Salesforce Financial Services Cloud
Learning Curve	Steep due to the complexity of ERP modules like billing and PSA.	Moderate, especially for teams already familiar with Salesforce CRM.
Implementation	Complex and time-intensive, requiring integration across ERP modules.	Easier setup focused on client-centric workflows but requires CRM customization.
Cost	High upfront costs; pricing increases with modules and users.	Ongoing costs rise with add-ons like Einstein AI ($700/user/month).
Customization	Extensive options but requires deep ERP knowledge and expertise.	Highly customizable but needs Salesforce technical expertise or external support.
Third-Party Integration	Seamless with Salesforce tools, but ERP-heavy setups may face challenges.	Works best within the Salesforce ecosystem; limited compatibility with non-Salesforce tools.
Scalability Costs	Scales well for operational needs but adds to costs with user growth.	Licensing and feature expansion can escalate costs quickly for larger teams.
Permissions Management	Configuring roles and access can be cumbersome in larger organizations.	Built-in CRM permissions are easier to manage but less operationally detailed.

Implementation with Experts

Why implement Certinia or Salesforce Financial Services Cloud alone if you can do it with a certified partner who will ensure that the process goes smoothly and quickly? Partners like MagicFuse specialize in tailoring Salesforce solutions to fit the unique needs of any business.

Whether you go for the robust ERP capabilities of Certinia or the client-focused features of Financial Services Cloud, we’ve got you covered. With over 10 years of experience and a team of more than 200 certified professionals, MagicFuse specializes in aligning Salesforce solutions with your unique business needs.

For Certinia, we ensure ERP modules like revenue recognition, billing, and project management are fully aligned with your operational workflows.

For Financial Services Cloud, we implement tools like client relationship mapping, compliance tracking, and AI-driven insights.

By choosing MagicFuse, you gain a trusted partner committed to their success, ensuring every aspect of Salesforce works seamlessly to enhance performance and achieve strategic objectives.

Conclusion

When it’s time to choose between Certinia and Salesforce Financial Services Cloud, understanding their unique strengths is key.

Certinia, now serving over 1 million users on its Professional Services Cloud, provides comprehensive ERP capabilities tailored for businesses that need robust financial management, operational efficiency, and scalability. With 6 million project tasks created monthly and customers including Salesforce, Dell, and Siemens, it is a proven solution for large enterprises managing complex services and global operations.

On the other hand, Salesforce Financial Services Cloud is a software tailored for the financial services industry, providing tools for personalized client engagement and regulatory compliance. It has a high user satisfaction rating of 98%.

The key to unlocking seamless implementation of both products is partnering with Salesforce-certified experts like MagicFuse. We’re prepped and ready to align any Salesforce solution with your business needs, ensure that it meets your requirements, and integrate it into your workflows.

Ready to unlock the full productivity potential of Salesforce solutions? Contact MagicFuse today for personalized guidance and expert implementation.

FAQs

What are the key differences between Certinia and Salesforce Financial Service Cloud?

Certinia (FinancialForce) focuses on ERP capabilities like financial management, billing, and project tracking, while Salesforce Financial Services Cloud prioritizes client relationship management, financial planning, and regulatory compliance.
Which solution is better for mid-sized companies?

Certinia (FinancialForce) is ideal for mid-sized companies needing robust ERP tools, while Salesforce Financial Services Cloud is better suited for those prioritizing client engagement in financial and services delivery.
Can Certinia integrate seamlessly with other Salesforce platform products?

Yes, Certinia (FinancialForce) is built natively on the Salesforce platform, ensuring seamless integration with other Salesforce applications and solutions.
How can I ensure the successful implementation of these solutions?

Successful implementation requires thorough planning, customization, and integration. Partnering with a Salesforce-certified expert ensures alignment with your business goals.
How can MagicFuse assist with the seamless implementation of Certinia or Salesforce Financial Services Cloud?

MagicFuse helps businesses implement Salesforce Financial Services Cloud and Certinia (formerly FinancialForce) smoothly and effectively. Whether it’s customizing workflows, integrating with your current systems, or setting up Certinia’s ERP and PSA tools, we make sure everything fits your unique needs. Our team handles data migration, configures compliance-ready features, and offers ongoing support to keep things running effortlessly, so you can focus on growing your business without worrying about the tech.